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Carlson Reports Revenue Increase of 13% in 2011 to $38 billion and
Strategic Progress Made Across Its Businesses as Part of Ambition 2015 Goals

MINNEAPOLIS, March 21, 2012 -- Carlson, a global hospitality and travel company, today reported a 13 percent increase in 2011 of its system wide revenues to USD 38 billion and an eight percent year over year increase of the consolidated revenues of its businesses to USD 4.5 billion.

"We have made great progress toward our Ambition 2015 goals we set two years ago," said Hubert Joly, president and chief executive officer, Carlson. "Our achievements this year across our various businesses indicate we are on track to realize the goals we have defined."

Growth and strategic progress were strong in each of Carlson's three businesses.

Carlson Wagonlit Travel (CWT) recorded a 15 percent increase of its system wide sales to USD 28 billion and a 12 percent increase in company revenue to USD 1.9 billion. CWT's growth in 2011 stems from strong client retention (96 percent) and USD 2.2 billion in annualized new business. During the year, CWT successfully advanced its innovation strategy, introducing a range of new products, including CWT Market, a free mobile application that aggregates travel apps and mobile web sites; CWT To Go, which gives corporate travelers access to essential travel information (mobile check-in, flight status, gate changes, delays, etc.); and CRS by CWT, a central hotel reservation system consolidating non-Global Distribution System (GDS) hotel content in one place.

Carlson Rezidor Hotel Group reported system wide revenues of USD 7.0 billion, a seven percent increase from 2010 and increased its consolidated revenues by 12 percent to USD 1.5 billion. During 2011, Carlson Rezidor Hotel Group opened 63 new hotels and signed 84 hotels with more than 16,600 rooms, the highest number signed in the last three years. The global portfolio is now at 1,319 hotels in operation and under development. Number of rooms in operation and under development has grown to 208,500 at the end of 2011, from 202,500 at the end of 2010 and 197,000 at the end of 2009, despite the removal of close to 15,000 rooms over the last two years. Carlson Rezidor Hotel Group achieved major milestones in the implementation of its Ambition 2015 strategy, especially as it relates to the rejuvenation and growth of its core Radisson® brand: the company opened in November 2011 the Radisson Blu Aqua Hotel, Chicago, the first Radisson Blu in the U.S.; a second Radisson Blu is under construction at the Mall of America in Minneapolis, opening in spring 2013, which will bring the North American portfolio to three Radisson Blu hotels, including the Radisson Blu Resort, Marina & Spa, St Martin; globally, the number of Radisson Blu hotels in operation has grown from 192 at the end of 2010 to 229 at the end of 2011, and the group is expecting to open more than 30 Radisson Blu hotels in 2012; finally, 25 percent of the Radisson hotels in the U.S. and Canada have completed Property Improvement Plans (PIPs) and the company expects to be at 49 percent PIP completion by end of 2012.

T.G.I. Friday's increased its system wide revenues by close to four percent to USD 2.6 billion and achieved USD 1.2 billion in company revenues. T.G.I. Friday's opened 52 new restaurants during the year, of which 41 were international, bringing the total number of restaurants to 924 at the end of 2011 compared to 909 at the end of 2010. It achieved four percent comparable store sales growth in its international restaurants and out-performed the market domestically in comparable guest counts by one percent in the company-owned restaurants.

System wide revenues (USD billions)

2010

2011

% Growth

Carlson Wagonlit Travel®

24

28

15%

Carlson Rezidor Hotel Group

6.5

7.0

7%

T.G.I. Friday’s®

2.5

2.6

3%

Total

33

38

13%

Consolidated revenues (USD billions)

2010

2011

% Growth

Carlson Wagonlit Travel®

1.7

1.9

12%

Carlson Rezidor Hotel Group

1.3

1.5

12%

T.G.I. Friday’s®

1.2

1.2

0%

Total

4.2

4.5

8%

About Carlson
Carlson is a global hospitality and travel company headquartered in Minneapolis, Minn. Carlson Rezidor Hotel Group includes more than 1,300 hotels in operation and development, including, Radisson Blu, Radisson®, Park Plaza®; Park Inn by Radisson, Country Inns & Suites By Carlson(SM) and Hotel Missoni; more than 900 T.G.I. Friday's® restaurants; and a majority stake in Carlson Wagonlit Travel®, the global leader in business travel management. Carlson operates in more than 150 countries and territories and its brands employ more than 170,000 people. http://www.carlson.com

.
Contact:

Ben Gardeen
Carlson
+1 (763) 212-8129
bgardeen@carlson.com


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